Branson unites with brokers down under

by Julia Corderoy26 May 2016

Business magnate and founder of the Virgin Group, Richard Branson, will meet with brokers in Sydney today to formally launch Virgin Money Australia (VMA).

The event, attended by an intimate group of PLAN brokers and VMA team members, marks the official launch of Virgin Money’s home loan business.

Bank of Queensland (BOQ) acquired exclusive rights to the VMA brand for 40 years in April 2013 and announced its plans to relaunch mortgages through VMA in March 2015.

Last month, VMA unveiled its brand new mortgage product, the Reward Me Home Loan, to be distributed exclusively through the third-party channel initially, beginning with PLAN brokers. Virgin Money in the UK does 80% of its lending through the third-party channel. 

Branson will educate and entertain brokers with a Q&A session, and will be joined by VMA CEO Greg Boyle, VMA head of distribution Adrian Cunningham and PLAN CEO Phil Quin-Conroy, who will also be giving presentations.

The Reward Me Home Loan will include an array of Virgin-branded benefits, including frequent flyer programs and offers from Virgin Australia, Virgin Mobile, Virgin Wines and Virgin Active. 

It is expected interest rates will be announced today.

More to come.
 

COMMENTS

  • by Alex 26/05/2016 11:16:38 AM

    How do you formally launch something that has already been and gone?

    "In 2008, Virgin Money Australia withdrew its home loan product from the Australian market due to the financial crisis of 2007–2010."

    Branson's a smart guy who looks for followers, and there are no shortage.

    Maybe the market might be ready for Virgin now, cause it had no impact ten years ago.